Cost to Build a Real Estate App: Factors, Strategies, & Models

Would you like to invest in a real estate app, but are confused about how much?

Real estate business worldwide is estimated to reach a value of US $637.80 trillion by 2024 and its market volume is expected to reach US $729.40 trillion by 2028.

With this devastating growth of the market, you can too earn a handsome amount by entering the world of real estate.

Well, cost is one of the prime factors that comes to mind before wondering how to capture the real estate business.

“How Much Does it Cost to Develop a Real Estate App?”

The average cost to develop a real estate app can be from $15,000 to $95,000. If you want to know more about cost, related factors impacting it and a brief about monetization models, then here we are going to discuss it all.

From cost, factors, strategies to minimize cost, and monetization models, we will provide you details related to the cost of building a real estate app.

Let’s proceed with it together.

What are the Common Factors Impacting Real Estate App Development Costs?

We have provided you with an estimate of the cost required to build a real estate platform. However, it’s not enough.

To have a complete understanding related to the development cost of a real estate app, it is essential to know the factors impacting it.

Shall we begin them one after the other?

1. Complex App and Size

Complexity is definitely a pattern that you should study before beginning with the app development process.

Here, complexity refers to including features such as real-time chat, machine learning algorithms, and other advanced technology that can support the requirement of well-trained users.

These apps are developed to provide users with a platform where they can manage and navigate large data sets. Likewise, the complexity and size of apps can be a point of concern for cost.

The large and more complex apps require a high amount to be invested. Look out the table below for more information.

To develop a real estate app, it is important to look for the complexity required to determine estimated costs and other resource factors.

2. Design of Real Estate App

Another factor that needs to be looked upon is app design. The complexity of design elements such as apps with highly polished patterns, and custom animations requires more resources.

Additionally, if the app needs to be integrated with third-party APIs, databases, and services then the cost can increase in multiples of hundreds.

Design is what first users experience when they open the app. Hence, it should be attractive and pleasant enough to accelerate users’ interest in the platform.

Well, to design such an app, all you need to know diversified levels and costs to create a real estate app. Let’s know them all via the table presented below.

To know more about the cost needed to invest in UI/UX design for your app, connecting with an experienced team can help.

3. App Platform Compatibility

The app platform selection matters and impacts the real estate mobile app development cost. Deciding over the costs for platforms can become simple if you know your potential app users.

Yes, identifying the target audience plays a vital role in this aspect. Here you should note that app development over a single platform can cost you more than a hybrid development platform.

This is because, here, developers are required to write one set of code for hybrid app development rather than the native app development which costs them low.

Likewise, it is crucial to look for the functioning of the app on other devices such as laptops, or on multiple types of screen sizes. Here is a table to follow for deciding over the cost of making a real estate app.

You can hire Android app developers and iOS app developers to learn more about the respected app platform compatibility factor.

4. Tech Stack

The type of frameworks and technology used for app development can have a great impact on the cost of developing a real estate app.

Here tech stack can be defined as tools, platforms, and programming languages utilized for building an app. These are the fundamental layers of technology that are built to empower products.

The technology and frameworks used to build a real estate platform have a vast impact on the app’s performance and ultimately the user experience.

An organized and optimized stack is designed to provide better performance, fluidity, and responsiveness when compared to an unorganized stack. Here is a table to go through for the tech stack and its related costs.

Hence, it is required to select the effective tech stack and programming language based on the ultimate output needed. To get more information related to the suitable tech stack for your app, know all real estate technology trends.

5. App Development Team

If you are eager to invest in an app, it is required to have awareness of the development teams available in your range.

Hiring experienced and skilled app developers can cost you high. However, with such a network you can have an assurance of a successful app.

A team that is able to convert your dream app into reality completing all the required details can get you one step closer to success.

Hire mobile app developers who possess all the required skills as it does have an impact on the cost estimation to build a real estate app. Here is a table to follow.

Two important factors to be noted before selecting a mobile app development company are the location and expertise of the team members.

Till now, you learned about the total costs and related factors impacting it. Now, what if we tell you that you can control the cost invested to develop a real estate app?

Yes, you read it right. Let’s study some of the subsequent and relevant strategies related to reducing real estate app development costs in the following section.

Strategies to Minimize Cost To Build a Real Estate App

When it comes to cost, we want to have certain strategies useful to minimize it, right?

Well, you need not to wander anywhere else. Here is the list to follow for the strategies that can help you to cover the cost to make an app like Zillow.

1] Conduct Market Research

Performing the right market research can help you here. It not only helps you learn the behavior of the target audience but also improves your knowledge of developing the right process to continue with app development.

You should learn about competitors and other respective matters, which can simply help to know about current market dynamics.

2] Prioritize the Core Features

Prioritizing the core and advanced features can assist you in meeting the growing needs of the target audience. It is useful for listing what is actually needed in the present scenario and features that can be added further while updating an app.

This process is effective in covering the complete cost of building a real estate app as by meeting users’ demand, you can fulfill the basic cost invested in its development.

3] Outsource the Development Process

Outsourcing software development can play an important role when it comes to app development. The process of outsourcing the app development can provide you time over core functional strategies.

It can result in cost-saving techniques because for this process you do not need to hire or recruit app developers which can take your potential resources. All you need to worry about is framing strategies that can hit Bulzie.

4] Optimization of Resources

Resource optimization plays a crucial role when you decide on the process. Here most important resources are time and cost. Thus, you should be smart enough to allocate the resources wisely and successfully.

By learning about the critical task and allocating resources, you can minimize the bottlenecks and allow the projects to stay on schedule that can result in app performance optimization.

5] Investing in MVP

If you think that Minimal Value Product (MVP) development can increase the total cost invested in real estate app development then it’s not correct. However, creating an MVP can make you one step closer to your objective.

It helps you to finalize the features that are required to launch to build a very first impression among people. After collecting feedback from the MVP, you can update the app as per users’ preferences.

6] Use Agile Methodology

An Agile methodological framework can improve and reduce the cost of real estate App development by making the app flexible and can be further comprised of technologies totally effective to fulfill market requirements.

This process can be useful in focusing on important tasks and avoiding unnecessary protocols for app development.

After learning the minimization strategies for the cost of creating a real estate app, let’s proceed to the money-making models following the next section.

Real Estate App Monetization Models

Till now, you learned about the average cost to develop a real estate app, multiple factors that impact it, and cost reduction techniques.

Now, do you want to know, about app monetization models? Well, investing money can hurt, if you aren’t able to earn interest on it, right?

Hence, here we have presented real estate app money-making strategies.

A) Listing Properties

Through listing the properties, you can charge the property management companies a commission to display their properties at the top. Here, these companies can also act as brokers.

People connecting with such real estate apps can also make their property listed. All they have to pay a certain amount for listing their properties. This amount can act as a continuous source of income for you.

B) Advertising

Providing an advertising platform to the third party for posting their ads over the app is one of the significant models of money making.

Here you can showcase other businesses such as money lenders for home loans, home improvement services, and interior designer ads, and can charge a commission from such parties.

C) Data Monetization Model

The data monetization model works when you collect a diversified amount of data through your app. This data can further be converted into reports that are sold for money to third parties.

However, you need to get consent from the users for selling their data. One of the primary activities can be to sell the data through reports without disclosing sensitive information related to the users.

D) Partnership Model

Using the partnership money-making model, you can add connections with people or real estate brokers who can help you reach a wide range of audience.

It is a long or short-term alliance where both parties get benefits by agreeing. This type of content is intended for a specific type of audience that enables the advertisers to connect with potential users.

E) Affiliate Marketing

Affiliate marketing is a platform where you can build your audience by connecting with different affiliates. A reasonable amount can be paid to them for generating sales from the platform.

Under this money-making model, the company uses third parties such as YouTube channels, podcasters, and bloggers to promote their app.

F) Freemium Model

This is one of the popular models for real estate apps where a basic service can be provided to users for free and then for the additional services you can charge an amount from the users.

After developing a real estate app, you can add this model to earn continuous revenue. Within the free app, you can help them view properties and can keep other options to paid versions.

Well, these were the monetization models that can be helpful for you to earn a high amount useful to cover the cost of building a real estate app.

If you want to know more information specifically related to your real estate app and its related app development segment. A team is all you need.

How Nimble AppGenie Can Help You in Building Your Dream Real Estate App?

As we already discussed, selecting an app development team impacts the cost of developing a real estate app, so finding one could be a difficult task for you.

But not anymore, with Nimble AppGenie, you can end your research because we offer top-notch solutions based on your demands.

We are the best Real Estate App Development Company focused on delivering services to capture large market segments.

With the expert panel, you can freely discuss what you seek in your future app and we will help you to get through it in no time.

Conclusion

Identifying the exact cost estimation can be a burden sometimes and we understand how you might be struggling through it. Well, you need to understand there cost varies from app to app and factors play a major role in this segment.

Different factors that impact the cost of developing a real estate app are complexity, app design, platform compatibility, tech stack, and development team.

You can opt for several strategies to cover the cost such as outsourcing the development process, investing in MVP, optimization of resources, and conducting market research.

Besides this, you should go for monetization strategies that can help you to cover the invested cost including the data monetization model, partnership model, advertising, and freemium model. Furthermore, connecting with an experienced team can help you here.

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Niketan Sharma

Niketan Sharma is the CTO of Nimble AppGenie, a prominent website and mobile app development company in the USA that is delivering excellence with a commitment to boosting business growth & maximizing customer satisfaction. He is a highly motivated individual who helps SMEs and startups grow in this dynamic market with the latest technology and innovation.